Bilby puts on 'strong' H2 performance, margins impacted by higher costs

Building services provider Bilby said on Thursday that it had put on "a strong performance" in the second half but cautioned that margins were affected by higher operational costs.

Bilby expects to post revenues of approximately £60.0m for the twelve months ended March. However, it also said margins had been impacted by increased operational costs arising from the higher no access rates and mix of works.

Adjusted underlying earnings for the second half of the year were expected to be comparable to the first half, coming in at roughly £3.0m for the full year.

The AIM-listed group added that encouragingly, there was evidence that the improving Covid-19 situation was enabling clients to plan more confidently for a return to "normality", with the group now looking forward to this being reflected in its results moving forward.

Chief executive David Bullen said: "Our hard work, tenacity and commitment throughout the Covid-19 pandemic to the communities where we operate has demonstrated the reinvigorated strength of Bilby and robustly positioned us to look forward to the year ahead with great confidence.

"Our repositioning will clearly show that the group is entering a new chapter with exciting growth opportunities. We very much look forward to providing more detail on this at our full-year results in July."

As of 0930 BST, Bilby shares were up 0.57% at 37.21p.